{"id":105330,"date":"2021-01-23T23:51:28","date_gmt":"2021-01-23T23:51:28","guid":{"rendered":"https:\/\/fin2me.com\/?p=105330"},"modified":"2021-01-23T23:51:28","modified_gmt":"2021-01-23T23:51:28","slug":"blackrock-to-add-bitcoin-as-eligible-investment-to-two-funds","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/blackrock-to-add-bitcoin-as-eligible-investment-to-two-funds\/","title":{"rendered":"BlackRock to add bitcoin as eligible investment to two funds"},"content":{"rendered":"
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BlackRock Inc is adding bitcoin futures as an eligible investment to two funds, a company filing showed, in a move to bring the world of cryptocurrency to its clients.<\/p>\n
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GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/strong><\/p>\n The world's largest asset manager said it could use bitcoin derivatives for its funds BlackRock Strategic Income Opportunities and BlackRock Global Allocation Fund Inc.<\/p>\n The funds will invest only in cash-settled bitcoin futures traded on commodity exchanges registered with the Commodity Futures Trading Commission, the company said in a filing to the Securities and Exchange Commission on Wednesday.<\/p>\n Chief Executive Officer Larry Fink had said at the Council of Foreign Relations in December that bitcoin is seeing big giant moves every day and could possibly evolve into a global market.<\/p>\n Earlier this month, Bitcoin, the world's most popular cryptocurrency, hit a record high of $40,000, rallying more than 900% from a low in March and having only just breached $20,000 in mid-December.<\/p>\n CLICK HERE TO READ MORE ON FOX BUSINESS<\/strong><\/p>\n A BlackRock spokesperson declined to comment beyond the filings when contacted by Reuters.<\/p>\n (Reporting by Radhika Anilkumar and Bhargav Acharya in Bengaluru; Editing by Arun Koyyur)<\/p>\n\n\n
\n \nTicker<\/th>\n Security<\/th>\n Last<\/th>\n Change<\/th>\n Change %<\/th>\n<\/tr>\n<\/thead>\n \n BLK<\/td>\n BLACKROCK INC.<\/td>\n 741.54<\/td>\n +7.89<\/td>\n +1.08%<\/td>\n<\/tr>\n \n Powered by<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n